- Haryana is one of India’s largest automobile hubs.
- It has also emerged as a base for the knowledge & manufacturing industry.
- The entire state falls under the expanse of at least one major industrial corridor, namely, the Delhi – Mumbai Industrial Corridor (DMIC), Amritsar Kolkata Industrial Corridor (AKIC), and Kundli-Manesar-Palwal Expressway (KMP).
- The state’s focus on developing efficient logistics systems, coupled with its robust manufacturing sector, has enabled it to emerge as a key exporter of automobiles, textiles, and agro-based products.
There are following reason of investing in the Haryana state in various sectors.
- One of the highest per capita income among large states in India
- One of the largest producers of passenger vehicles and motorcycles in India.
- More than 60% export of Basmati Rice is taking place from the State
- Highest concentration of BPO workforce in the world.
Following are the Trust sectors to invest in Haryana
- Agro & food processing
- Auto and auto mobile components
- Defence & Aerospace
- Electronica & IT/ITES
- Footwear & accessories
- Pharmaceuticals & Chemicals
- Renewable Energy
- Textile & Apparels
Haryana Government is providing the following subsidies to the investors:-
- Investment subsidy on VAT
- 75%/50%/35%/25% subsidy of VAT/SGST net paid for first 7 years (subject to the conditions)
- Employment Generation Subsidy
- One-time support of Rs.10,000/- for capacity building of persons belonging to Haryana engaged in apparel rural functional clusters
- Interest Subsidy
- Exemption for Micro, Small & Medium Enterprises on term loan for new/expansion/diversification
- Stamp duty
- 100% refund on stamp duty on purchase/leasing of land for establishment of enterprise
- EDC Charges
- Exemption of external development charges in certain category blocks
- Exemption in case of ginning enterprises in certain category blocks
- Electricity Duty Exemption
- Exemption for 10 years only for new enterprises in certain category blocks from date of release of electricity connection
- VAT Exemption on cotton yarn
- 100% VAT Exemption of VAT (subject to some conditions)
- Transfer Property Tax
- Exemption from transfer property tax in case of Dyes & Chemicals purchased from outside the state being used in process house.
Conclusion: –
Haryana Governments is providing various incentives and rebates to the investors who are investing in the thrust sectors like agro & food processing, footwear & accessories and others sectors as mentioned above.